Judge dismisses millionaire's bankruptcy case

The Chapter 7 bankruptcy case of Kevin Adell, the Michigan millionaire who fled to Naples after he was ordered to pay a $6.4 million judgment, was dismissed late Tuesday.

U.S. District Judge Alexander L. Paskay also denied Adell's request for stay pending appeal, which means he is not under the protection of the bankruptcy court for the first time in two years.

His creditors now can pursue his assets, including the Old Naples waterfront mansion he purchased in 2003 for $2.8 million.

Adell was ordered the judgment for forcing the builder of his future $3.1 million home into involuntary bankruptcy. A Michigan bankruptcy judge declared the bankruptcy bogus and ordered Adell to pay the builder more than $4 million in compensatory damages and $2 million in punitive damages.

Adell attempted to start a Naples-based Cuban TV channel when he moved here in May 2003. He works for Michigan companies Adell Broadcasting and STN.